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Home / Blog / Headlines & News / 4 Reasons Not to Pay Off Your Mortgage Early

4 Reasons Not to Pay Off Your Mortgage Early

August 28, 2014 By Mary Catchur

debt
Photo Credit: Images Money/Flickr/CC.

Paying off a mortgage early is not difficult, and most people can make minor change in their finances resulting in cutting several years off their mortgage.

But in some circumstances, paying your mortgage off early doesn’t make the most financial sense.

JT Ripton recently wrote an article appearing in Zillow.com discussing 4 reasons it may not make financial sense to pay off a mortgage early. These reasons may or may not be applicable to you, but they’re certainly worthy of consideration.

  1. Prepayment penalties
  2. Not enough savings for retirement or a cash cushion
  3. Paying off other debts are a higher priority
  4. Use your mortgage to outlast inflation

Read the Zillow.com article: Can Paying Off Your Mortgage Early Damage Your Net Worth?

More Resources

5 Painless Ways To Pay Off Your Mortgage More Quickly

When shouldn’t you pay off your mortgage early?

What are the potential pitfalls of paying off your mortgage early?

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Filed Under: Headlines & News Tagged With: Mortgage

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

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